Oprah Winfrey Loses $117 Million as Weight Watchers Stock Crashes
Oprah Winfrey has lost nearly $117 million since first investing in Weight Watchers last October. When the media mogul announced her new involvement with the diet company last year, which included a purchase of 10 percent stake and a seat on the board of directors, Weight Watchers stock shot up 300 percent within weeks. Since then, it has dropped back down to earth, costing the company nearly $1 billion in market valuation, according to Forbes. The dramatic losses led to the resignation of CEO Jim Chambers on Monday. Also Read: Own Renews Ava DuVernay's 'Queen Sugar' for Season 2 Chief Financial Officer...
- 9/14/2016
- by Reid Nakamura
- The Wrap
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